Public Pension Expenditures in Latin America and Projections to 2075: Evidence from Chile, Peru, Colombia, and Mexico

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This paper analyzes the main factors behind pension expenditures and projects their evolution to 2075 in four Latin American countries: Chile, Peru, Colombia, and Mexico. Pension expenditures are defined as those included in the national budget and allocated to specific benefit plans and to non-cont...

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Detalles Bibliográficos
Autor principal: Bernal, Noelia
Formato: Artículo publishedVersion
Lenguaje:Español
Inglés
Publicado: Universidad del Pacífico 2016
Materias:
Social security; public pension expenditure; aging; defined benefit; non-contributory pensions
seguridad social; gasto público en pensiones; envejecimiento; sistemas de beneficio definido; pensiones no contributivas.
Acceso en línea:http://revistas.up.edu.pe/index.php/apuntes/article/view/763
http://biblioteca.clacso.edu.ar/gsdl/cgi-bin/library.cgi?a=d&c=pe/pe-014&d=article763oai
Aporte de:
Red de Bibliotecas Virtuales de Ciencias Sociales (CLACSO) de Consejo Latinoamericano de Ciencias Sociales
id I16-R122-article763oai
record_format dspace
institution Consejo Latinoamericano de Ciencias Sociales
institution_str I-16
repository_str R-122
collection Red de Bibliotecas Virtuales de Ciencias Sociales (CLACSO)
language Español
Inglés
topic Social security; public pension expenditure; aging; defined benefit; non-contributory pensions
seguridad social; gasto público en pensiones; envejecimiento; sistemas de beneficio definido; pensiones no contributivas.
spellingShingle Social security; public pension expenditure; aging; defined benefit; non-contributory pensions
seguridad social; gasto público en pensiones; envejecimiento; sistemas de beneficio definido; pensiones no contributivas.
Bernal, Noelia
Public Pension Expenditures in Latin America and Projections to 2075: Evidence from Chile, Peru, Colombia, and Mexico
topic_facet Social security; public pension expenditure; aging; defined benefit; non-contributory pensions
seguridad social; gasto público en pensiones; envejecimiento; sistemas de beneficio definido; pensiones no contributivas.
description This paper analyzes the main factors behind pension expenditures and projects their evolution to 2075 in four Latin American countries: Chile, Peru, Colombia, and Mexico. Pension expenditures are defined as those included in the national budget and allocated to specific benefit plans and to non-contributory pensions. Using a model developed by Clements et al. (2013), it was found that, currently, expenditures are between 1.8 and 6.4 percent of GDP. However, they will rise between 2 and 4 times by 2075, mainly due to population aging. Two simulations were conducted. The first boosted the aging process while the second assumed universal coverage of non-contributory pensions. Expenditures significantly increased in both scenarios and it is recommended that countries pay more attention to aging and its consequences in the long run, especially to the fiscal sustainability of pension systems, in order to permanently estimate pension liabilities, improve accounting, and to build up reserve funds.
format Artículo
publishedVersion
Artículo
publishedVersion
author Bernal, Noelia
author_facet Bernal, Noelia
author_sort Bernal, Noelia
title Public Pension Expenditures in Latin America and Projections to 2075: Evidence from Chile, Peru, Colombia, and Mexico
title_short Public Pension Expenditures in Latin America and Projections to 2075: Evidence from Chile, Peru, Colombia, and Mexico
title_full Public Pension Expenditures in Latin America and Projections to 2075: Evidence from Chile, Peru, Colombia, and Mexico
title_fullStr Public Pension Expenditures in Latin America and Projections to 2075: Evidence from Chile, Peru, Colombia, and Mexico
title_full_unstemmed Public Pension Expenditures in Latin America and Projections to 2075: Evidence from Chile, Peru, Colombia, and Mexico
title_sort public pension expenditures in latin america and projections to 2075: evidence from chile, peru, colombia, and mexico
publisher Universidad del Pacífico
publishDate 2016
url http://revistas.up.edu.pe/index.php/apuntes/article/view/763
http://biblioteca.clacso.edu.ar/gsdl/cgi-bin/library.cgi?a=d&c=pe/pe-014&d=article763oai
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bdutipo_str Repositorios
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